Volkswagen says it may have to step up e-car plans to meet new EU CO2 targets

Reuters

Volkswagen will likely have to step up its plans for electric car mass production to meet the new 2030 fleet emission limits, report Tassilo Hummel, Christoph Steitz and Irene Preisinger for Reuters. The European Union agreed on Monday to cut CO2 emissions from cars by 37.5 percent by 2030. Volkswagen had expected a 30 percent cut. The new target would translate into an electric vehicle share of more than 40 percent of its expected total vehicle sales in 2030, VW CEO Herbert Diess said. “This means that our planned restructuring programme, which is needed to address this systemic change, is not yet sufficient.”